Crédit Lyonnais sets up new private equity division

French bank Crédit Lyonnais has merged its two private equity businesses into one unit.

The bank, which formerly ran two divisions – Clam Private Equity, which was part of its asset management division and another division, Clinvest, dedicated to the bank's own investments – has merged into one arm called Crédit Lyonnais Private Equity.

Crédit Lyonnais Private Equity, which currently has E482m funds under management, is launching several new funds. It has just launched Lion Capital Investment, a new fund for individual investors wanting exposure to private equity as an asset class.

A further two funds are expected in the coming months, a mezzanine fund called Mezzanis Fund is due at the end of March, and a fund specialising in secondary market transactions is expected in the third quarter of this year.

The newly merged arm, which is made up of 60 employees, will be headed by Stéphane Monmousseau, the CEO of Clam Private Equity.